BAKU, Azerbaijan, Dec. 4
By Eldar Janashvili - Trend:
In October 2019, the volume of problem loans in Azerbaijan dropped by 18.5 percent (313.9 million manat, or $185 million) in comparison with the same period last year, Trend reports Dec. 4 referring to the Azerbaijani Central Bank (CBA).
In October 2019, the volume of problem loans reached 1.3 billion manat ($816.3 million).
The total loan portfolio of the banking sector and non-bank credit organizations (NBCOs) increased by 17.6 percent, amounting to almost 14.4 billion manat ($8.5 billion).
The share of state banks in issued loans amounted to 2.2 billion manat ($1.2 billion, or 16.8 percent of the total portfolio), the share of private banks - 11.6 billion manat ($6.8 billion, or 80.6 percent), NBCOs - 370.9 million manat ($218.6 million, or 2.6 percent).
The volume of loans in national currency in October 2019 amounted to 9.6 billion manat ($5.6 billion, or an increase of 25.1 percent compared to October 2018), and their share in the loan portfolio of banks was 66.2 percent.
Loans worth 4.8 billion manat ($2.8 billion) were issued in foreign currency (an increase of 5.3 percent compared to October 2018), with a specific weight of 33.8 percent.
The volume of short-term loans amounted to 1.6 billion manat ($989.9 million), long-term loans – 7.9 billion manat ($4.6 billion).
($1 = 1.7 manat on Dec. 4)
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